Senate Bill 23-093 Summary

• Caps interest rate on medical debt at 3 percent per annum, down from standard rates.

• Requires debt collectors to provide itemized statements of medical debt upon written request at no cost to consumers and pause collection efforts until the statement is provided.

• Mandates written payment plan agreements for medical debt installments (4+ payments) include prominent disclosure of interest rates and payoff dates, with specific notice requirements before acceleration.

• Prohibits debt collectors from reporting medical debt to credit agencies, suing, or selling debt during pending health insurance appeals within the previous 63 days.

• Requires healthcare providers to offer self-pay cost estimates to patients before service; final costs must not exceed 15 percent above the estimate or $400 (whichever is less), with exceptions for medical emergencies or unforeseen medically necessary services.